Management Fees when Sale Agreed

mauraf

Hi

I have just gone Sale Agreed on my property. Last week – the Management fees for the year ahead ( June to May 2019) have just been invoiced. Where does responsibility for paying these lie?

pinkypinky

Pro-rata from now until the sale closes for the vendor and then you pay the rest.

daheff

you are responsible to pay it, but your solicitor should be getting the purchaser to pay for portion of the year that they will own the property for.

Askthe EA

It depends if the current owner has paid them or not. As above you are liable for the protion of the year you own the property. They for the rest. Its called apportionment and your solicitor deals with it.

Catlady76

mauraf wrote: »

Hi

I have just gone Sale Agreed on my property. Last week – the Management fees for the year ahead ( June to May 2019) have just been invoiced. Where does responsibility for paying these lie?

You will pay your portion say if the sale doesn't complete till Sept you will pay June to Sept and the rest will be invoiced onward to the new owner. Its all done via the solicitor and taken out of any monies.

Glass fused light

The fee remains the responsibility of the current owner, and a portion would transfer on the sale. If the OMC would expect to be fully paid on receipt of the invoice you as the owner would have to pay the full amount as otherwise they are not likely to provide the documents to your solicitor.
If there is an agreement that fees are paid across the year contact them and check that the payment arrangement is not suspended due to the sale so that you can budget for this and don't end up with a delay.

Juwwi

Presuming you are the seller from your post if you have the money just pay for the year , your solicitor will collect the money owed to you before releasing contracts back to the buyer .